Cat bond news

Slide Insurance Company is targeting lower pricing for its second catastrophe bond, with the guidance lowered for its new Purple Re Ltd. (Series 2023-2) transaction.

Here are the ten most popular news articles, week ending June 25th 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Numerous insurance-linked securities (ILS) fund strategies have delivered decadal high returns, at least, so far in 2023, as the higher reinsurance rate environment and elevated spreads for instruments like catastrophe bonds boost their performance.

The World Bank Group said today that it intends to build on its already available catastrophe insurance solutions, such as catastrophe bonds, to make access to disaster risk financing without adding debt a reality for member countries.

Despite the backlash against environmental, social and governance (ESG) investing in certain parts of the United States and elsewhere, capital raising for ESG investments, funds and strategies continues apace, and for investors ESG remains a key driver of allocations.

Investment giant Blackstone has returned to the catastrophe bond market for the second time, seeking a $250 million or greater source of multi-peril and indemnity based catastrophe insurance protection for risks held by its real estate funds, from this Wrigley Re Ltd. (Series 2023-1) cat bond deal.

NJM Insurance has increased its appetite for named storm reinsurance from the capital market with its new catastrophe bond, now aiming for up to $275 million in protection with the Lower Ferry Re Ltd. (Series 2023-1) issuance.

The gap between natural catastrophe exposure and how much of it is covered by insurance has widened in dollar terms, with the natural catastrophe protection gap now seen to be $368 billion by global reinsurance firm Swiss Re, who also says that catastrophe bonds and resilience bonds are valuable tools to deploy.

We’ve learned that the European Commission has now directed financial regulator the European Securities & Markets Authority (ESMA) to study eligible assets for UCITS investment fund strategies, to ensure their suitability, with catastrophe bonds explicitly mentioned.

Global insurance and reinsurance group AXA has increased its appetite for European windstorm reinsurance protection through the new Eiffel Re Ltd. (Series 2023-1) catastrophe bond issuance, with the deal now targeted at up to €150 million in size.